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Answer» It is a globally and regionally well-tested methodology to develop the Balanced Scorecard.
The key steps include:
- Detailed internal assessment of the organization.
- Analysis of the business context for the enterprise, to HIGHLIGHT the existing and potential challenges facing the business.
- One-on-one interviews with key management executives/ PERSONNEL across the organization. The purpose is to allow the management team to articulate their interpretation of the vision, the financial, customer, internal process, and organizational issues/objectives of the enterprise, their concerns vis-à-vis the strengths and weaknesses of the organization, etc.
- Conduct strategy workshop for the management team to gain consensus and finalize the strategic objectives of the organization.
- Finalize objectives ownership amongst the management team, and recommend measures, which are discussed and finalized with the objectives owners during meetings after the strategy workshop.
- The set of initiatives to ensure delivery of the objectives, and initiatives MAPPING are then finalized during the second workshop.
- The management team then FILLS in the actual and sets targets for each measure. These targets are broken down monthly or for the RESPECTIVE period for which the measure has to be reported.
It is a globally and regionally well-tested methodology to develop the Balanced Scorecard. The key steps include:
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